Trading in Aveo Group shares surged on Wednesday as investors took early profits and criticism emerged of the retirement living operator's $1.3 billion deal with Canadian giant Brookfield.
More than 127.2 million shares changed hands, more than 36 times the average daily volume of the past year, after Aveo said it had agreed with Canadian giant Brookfield to buy the ASX-listed company for $2.195 per security, a 28¢ premium to the price at which it closed in mid-February before telling the market it had received bids from various parties.
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Michael Bleby covers commercial and residential property, with a focus on housing and finance, construction, design & architecture. He also dabbles in the business of sport. Michael is based in Melbourne. Connect with Michael on Twitter. Email Michael at mbleby@afr.com
